I think this is the least of our worries atm, but assume that is adopted and the chinese community says: Why bitusd and not bitcny? It's always unfair to have one over the other.
Either way, I think this makes sense. It kind of reminds of Tonyk's idea but doesn't feel so "restricted".
I agree with
@cylonmaker2053 that we should not shut down all smartcoins other than BitUSD. But the UI is a clusterf*uck of trading pairs and while it might not be the
biggest problem we have, it IS a problem and it only compounds other problems. Ideally we would limit the trading pairs as
@JonnyBitcoin mentioned -- primarily to those pairs most commonly traded in the "real world". Although it might be possible that organizing/grouping the pairs differently in the UI will make a big difference. Let's wait and see what
@svk comes up with on that front (hopefully any day now).
In the meantime, I think we should give VERY serious consideration to
@Empirical1.2's idea to incentivize creation of BitAssets via yield harvesting. I think we should do that, at least with a small amount of dilution, for both BitUSD and BitCNY in equal amounts (accounting for exchange rate). To a smaller degree, I would also incentivize creation of BitEUR in the same manner as BitUSD and BitCNY.
It is critical to start getting BitAssets in people's hands, otherwise
@kenCode's POS system will be DEAD ON ARRIVAL or shortly thereafter. By the way, I would also reward liquidity providers in the key markets, starting with BitUSD:BTS and BitUSD:BitCNY...followed by BitUSD:BitEUR....and then others as we gain traction.
So we don't have to kill off any smartcoins or even any trading pairs. Let's just take measures to bootstrap key markets in a smart, systematic manner.
P.S. The idea to focus on BitUSD pairs was not tony's by any stretch.
@bytemaster made the point during a mumble several weeks ago. And then
@JonnyBitcoin resurrected the idea a couple of weeks ago on one of his liquidity threads here on the forum. Tony simply added the idea to his recent forking proposal, which incorporated perhaps a couple decent ideas, but unfortunately for everyone is an overall abomination on many levels.